Proposed Provision: E3.9. Beginning in 2029, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $200,000 in 2017 (about $305,400 in 2029), with the threshold wage-indexed after 2029. Do not provide benefit credit for additional earnings taxed.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Current Law Provision
2021253253
2022231231
2023214214
2024196196
2025178178
2026159159
2027141141
2028122122
2029104104
20308586
20316669
20324651
20332733
2034715
2035-13-3
2036-33-22
2037-54-41
2038-76-61
2039-97-81
2040-119-101
2041-142-122
2042-165-143
2043-188-164
2044-211-185
2045-235-207
2046-258-229
2047-282-251
2048-306-272
2049-330-295
2050-354-317
2051-378-339
2052-403-362
2053-427-384
2054-452-407
2055-477-430
2056-502-453
2057-527-476
2058-552-499
2059-578-523
2060-604-547
2061-630-571
2062-657-596
2063-684-621
2064-712-647
2065-740-673
2066-768-699
2067-796-725
2068-825-752
2069-855-779
2070-884-807
2071-914-835
2072-945-863
2073-976-892
2074-1007-921
2075-1039-950
2076-1071-981
2077-1105-1012
2078-1139-1044
2079-1175-1077
2080-1211-1111
2081-1248-1146
2082-1286-1180
2083-1324-1216
2084-1363-1252
2085-1403-1289
2086-1443-1326
2087-1483-1364
2088-1524-1401
2089-1564-1439
2090-1604-1476
2091-1643-1512
2092-1681-1547
2093-1718-1581
2094-1754-1614
2095-1789-1647
2096-1825-1680
back